Mixed martial arts legends and longtime rivals Chuck Liddell and Tito Ortiz will officially meet for the third time on Nov. 24 at The Forum in Inglewood, California, according to Golden Boy Promotions CEO Oscar De La Hoya.

Golden Boy signed Liddell, 48, and Ortiz, 43, to promotional agreements in July. The date and venue were finalized this week. The California State Athletic Commission also confirmed to ESPN this week it was in the process of finalizing both athletes' fighter licenses.

The trilogy fight will air on pay-per-view at a cost to be determined. It is Golden Boy's first venture into MMA.

"I'm excited for our first Golden Boy MMA event," De La Hoya told ESPN. "It reminds me of the first-ever fight I did in boxing [in 2002]. I'm going to see how this one goes, but just the way I did in boxing, I plan on becoming a regular promoter of MMA. There's no reason I should only promote one sport.

"I strongly feel MMA fighters are going to be pleased with the fact I'm entering the sport. Hopefully, we will sign some great fighters and go from there."

Without identifying any specific promotions, De La Hoya, a former world champion boxer, said he will offer a pay structure that will benefit athletes more than what has been traditionally offered in MMA.

"I'm becoming a promoter in MMA for the same reason I became a promoter in boxing," De La Hoya said. "I'm sick and tired of these fighters coming up to me and saying they get paid crap.

"I can't get into the specifics of these deals, but I'll tell you that [Liddell and Ortiz] will be making a hell of a lot more money than they have with anybody else. They'll participate in revenue from PPV, gate and everything else that comes in. This will be the most lucrative fight of their careers."

Liddell (21-8), of Santa Barbara, California, will come out of a retirement he announced in 2010. A former UFC champion, Liddell lost his last three fights by knockout and was urged to retire by president Dana White.

Earlier this year, White said he hoped Liddell was coming out of retirement to "be partners with [Golden Boy] and not to fight."

Ortiz (19-12-1), of Huntington Beach, California, left the UFC in 2012, and he made four appearances in Bellator MMA from 2014 to 2017. He defeated Chael Sonnen via first-round submission in his most recent fight, on Jan. 21, 2017. That fight also took place in The Forum.

Liddell and Ortiz are recognized as two of the biggest stars in UFC history. Their rivalry peaked in a lucrative rematch at UFC 66 in December 2006. Liddell won both fights via knockout.

The third installment will take place in a cage, under MMA rules.

When asked if this third fight is happening too late in their respective careers, De La Hoya said there's still real animosity between the two and added that both passed all medical requirements with "flying colors."

"Obviously, both guys are warriors and pioneers," De La Hoya said. "It's like [Floyd] Mayweather vs. [Manny Pacquiao, in 2015]. People were asking for that fight for the longest time. It finally happened and it broke records.

"I think this fight will be very lucrative for both guys. This is an opportunity for them to show the world they still have what it takes to fight in the Octagon. I strongly feel it's never too late with two guys like this. Two names of this caliber, you can't go wrong."